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Kenneth Cole President Leaving Firm

BY CSA STAFF

New York City, Paul Blum, president, Kenneth Cole Productions Inc., is leaving the firm to pursue other opportunities. Chairman and CEO Kenneth Cole will assume Blum’s responsibilities until a replacement is found. Blum joined the company in 1990.

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Kmart Reduces Full-Time Employee Roster

BY CSA STAFF

Troy, Mich., Kmart has outlined a new plan that reduces its full-time work force in favor of more part-timers at its 1,400 stores nationwide.

Some recently terminated full-time Kmart employees have been offered some of the part-time slots.

The new plan is entitled “Full-Time-Part-Time Workforce Adjustment Guidelines,” and is one of the latest cost-cutting steps taken by Kmart since it merged with Sears, Roebuck and Co. last year.

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Eddie Bauer Identifies Accounting Errors

BY CSA STAFF

Redmond, Wash., Newly emerged from bankruptcy, Eddie Bauer Holdings has identified errors in its balance sheets and cash-flow statements. The company has issued a statement saying that the errors will be corrected, but that they will not have an effect on net cash flows.

The company also announced the departure of CFO Timothy McLaughlin, who has been replaced in the interim by David Taylor, effective immediately.

The financial understatements are related to lease accounting.

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